Posted by: phillipsre | January 14, 2016

Is Free Rent Really Free?

for_rent FREEAn interesting contest for Seattle renters has been announced recently by a local landlord, it is an essay contest that will award its winner with a free year of rent in a Ballard or Queen Anne apartment. The contestants are asked to write a 350-word essay answering the question: How would a free apartment for one year help you reach your goals in 10 years? This is a great concept for both the contestant that is in need of free rent and the landlord. Although the landlord would like to remain anonymous, they will likely obtain a new tenant at the end of the lease for just the cost of one year’s rent and also spreading some goodwill. For the contestant that wins, they will receive a free year of rent, which could save them up to $18,000, as rent in those neighborhoods tends to be around $1500/month. What tenants need to remember and consider is that moving costs extra money and hassle as well. Considering additional deposits, moving costs and cleaning for new apartments, as well as changing utilities and mail forwarding, not to mention you may fall in love with the new apartment and if you are not able to pay the rent once the year is up, you may be heartbroken.

Yes, it sounds like a great concept and contest and someone will be lucky to win a year’s worth of rent, but just remember, free doesn’t always mean free.

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